British farmer-owned dairy co-op First Milk has announced that it will be increasing its milk price for July 2018.
First Milk has today announced a price increase of 1.2 pence per litre from July 1 on a liquid standard litre basis (4% butterfat, 3.3% protein).
Commenting on the announcement, Jim Baird, Vice Chairman and farmer director said commodity dairy markets have been improving in recent weeks.
"We have strived to deliver as much stability as we can to our members during the most recent period of volatility," Mr Baird said.
"It is encouraging to see that commodity dairy markets have been improving in recent weeks, and our price increase for July is a result of better returns coming through from the market, as well as improved business performance.
"As always, we are focused on maximising member milk price, and will continue to pass on any further increases as soon as we can."
The price increase follows news of First Milk starting a £6.5m investment project at its Haverfordwest creamery which will expand capacity by 20%.
